SBI Gets Ready To Whip Kavuri

Posted : March 21, 2014 at 1:09 pm IST by ManaTeluguMovies

It’s SBI, not CBI, yes you read it right. Congress MP of five times, Union minister and Eluru MP Kavuri Sambasiva Rao is going to face tough times ahead if State Bank of India goes ahead of its decision. As Kavuri is evading the payment of loans he has taken from the bank, it seems like they are getting ready to whip him hard.

Kavuri’s company Progressive Constructions needs to pay around 350 crores debt to State Bank of India, and some more amounts to other banks. Our MP owns around 41% share in the company that is involved into various construction projects across the world, primarily in India and Dubai. Bankers Association of India accused that Kavuri is trying to exert pressure on them using his political clout in order to get away from paying the debt. They have also filed a complaint with Election Commission to make it tough for Kavuri to contest in 2014 elections as he became a defaulter by not paying the loan.

However Kavuri tried to down play the issue saying that as he is contemplating to leave the Congress party he is being targeted just before the 2014 elections. The Eluru MP is avoiding all the activities of Congress party, but today he sought appointment of Rahul Gandhi to get the issues related to the company settled.